Korea’s Ministry of Science and ICT issued a statement on Friday that the government will support Naver’s decision if it chooses to maintain its stake and business in Line Yahoo (LY), the Tokyo-based operator behind Line.
The CEO of Japan's SoftBank said that talks with Naver are underway to agree on a slash of the Korean firm's equity in Line Yahoo.
The operator behind Japan's most popular messaging app, Line, has said that Line Yahoo is requesting that Naver scale back its capital ties.
The Fair Trade Commission (FTC) launched an on-site investigation into dominant platform operators Naver and Coupang on Tuesday to secure data related to membership termination agreements.
Naver CEO Choi Soo-yeon said the directive from Japanese authorities pushing for a stake reduction in Line defies standard practices, while Tokyo denied any such intent.
Naver reported a more than 30 percent on-year surge in profit during the first quarter, logging 439.3 billion won ($321 million).
Korea’s presidential office is “in close discussion” with Naver regarding the Japanese government’s recent directive urging the IT company to reduce its stake in Line.
KAIST will house an AI research lab jointly run by Intel, Naver and the science and technology research university to develop AI semiconductors and software that support the advanced chip range.
"Yumi's Cells" film director Lee Da-hee and original webtoon creator Lee Dong-geun talk about adapting the webtoon into an animated feature.
The Korean government opposes the Japanese government's directive urging Naver to reduce its stake in Line, the No.1 messenger app in Japan.
Korea JoongAng Daily Sitemap